Budget spending to be curtailed to ‘keep powder dry’ in case war in Middle East is prolonged
Finance Minister Simon Harris has not ruled out further help for households. Photo: Getty
Mary Regan and Senan Molony
Yesterday at 06:30
The country is at risk of “stagflation” – where slow economic growth is combined with rising inflation – as the energy crunch brought about by the war in the Middle East hits.
Public Expenditure Minister Jack Chambers is to deliver the stark warning to the Cabinet, where ministers will also be told that tighter spending controls will be needed in preparation for October’s budget.